DeGRAM | DXY retest of the trend line

DXY is in a descending channel between trend lines.

The price is moving from the lower boundary of the channel and has already reached the dynamic support, which has previously acted as a rebound point twice.

The chart dropped below the 62% retracement level and afterwards formed a harmonic pattern and even though the descending structure has been maintained, the index has not yet formed a descending bottom.

We expect that after consolidation above 107.760 DXY may rise in the channel to the nearest resistance at 108.540.

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